Order: In the Matter of Rezwealth Financial Services Inc. et al.

 

WHEREAS on December 22, 2009 the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order (the “Temporary Order”) pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990 c S-5, as amended (the “Act”) ordering the following:

1. that all trading in any securities by Rezwealth Financial Services Inc. (“Rezwealth”), Tiffin Financial Corporation (“Tiffin Financial”), 2150129 Ontario Inc. (“215 Inc.”) or their agents or employees shall cease;
2. that all trading in any securities by Pamela Ramoutar (“Pamela”), Chris Ramoutar (“Chris”), Justin Ramoutar (“Justin”), Daniel Tiffin (“Tiffin”) and Sylvan Blackett (“Blackett”) shall cease;
3. that the exemptions contained in Ontario securities law do not apply to Rezwealth, Tiffin Financial, and 215 Inc. or their agents or employees; and
4. that the exemptions contained in Ontario securities law do not apply to Pamela, Chris, Justin, Tiffin and Blackett;

AND WHEREAS on December 22, 2009 the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by the Commission;

AND WHEREAS on December 22, 2009 the Commission issued a Notice of Hearing (the “Notice of Hearing”) to consider, among other things, the extension of the Temporary Order, to be held on January 6, 2010;

AND WHEREAS the Commission ordered on January 6, 2010 that the Temporary Order was extended until June 22, 2010 and that the hearing was adjourned to June 21, 2010 at 10:00 am;

AND WHEREAS Staff of the Commission (“Staff”) request a further order continuing the Temporary Order against Rezwealth, Pamela, Chris, Justin, Tiffin Financial, Tiffin, 215 Inc. and Blackett (collectively, the “Respondents”);

AND WHEREAS Tiffin and Tiffin Financial consent to an order continuing the Temporary Order;

AND WHEREAS the Commission held a Hearing on June 21, 2010;

AND WHEREAS no one appeared at the hearing on behalf of Rezwealth, Pamela, Chris, Justin, 215 Inc. or Blackett;

AND WHEREAS Staff advised the Commission that Tiffin Financial has consented to the extension of the Temporary Order;

AND WHEREAS the Commission heard submissions from counsel for Staff;

AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;

IT IS HEREBY ORDERED pursuant to subsections 127(7) and 127(8) of the Act that the Temporary Order is extended to September 23, 2010; and specifically:

1. that all trading in any securities by Rezwealth, Tiffin Financial and 215 Inc. shall cease;
2. that all trading in any securities by Pamela, Chris, Justin, Tiffin and Blackett shall cease;
3. that the exemptions contained in Ontario securities law do not apply to Rezwealth, Tiffin Financial, 215 Inc. or their agents or employees;
4. that the exemptions contained in Ontario securities law do not apply to Pamela, Chris, Justin, Tiffin and Blackett; and
5. that this Order shall not affect the right of any Respondent to apply to the Commission to clarify, amend, or revoke this Order upon five days written notice to Staff of the Commission.

IT IS FURTHER ORDERED that the Hearing is adjourned to Wednesday, September 22, 2010 at 9:00 a.m.

Dated at Toronto this 21^st day of June, 2010